Fixed Term ISA

zhivago

This may be a daft question but ..
Just transfered my cash ISA into a fixed term for the first time but did not appreciate that you can not add to it in subsequent years. Can you
a) start an new cash ISA during the fixed term period;
b)can you then reconsile the two back into a single ISA at the end of the fixed term?

Lokolo

a) You can only subscribe to one ISA each tax year. If this fixed ISA is for this years money, then you cannot subscribe to another ISA for the rest of this year (although there's only a couple of days left for this year anyway!). So if this is money you have put into a Cash ISA this year, and now put it in a fixed ISA. next week (well from April 6th) you can open a new ISA and use that for next year's allowance.

b) Yes, as long as the ISA allows transfers (you will have to transfer one ISA into the other by an ISA transfer form)